Troubled Malaysian freight group Transmile has named one of its directors as new non-executive chairman while also appointing a new chief financial officer.

Transmile says in a stock exchange filing that Razak Ramli, 59, is its new chairman. He was already a Transmile director and previously served in several Malaysian ministries, including the Ministry of International Trade and Industry.

He replaces Ling Liong Sik, 64, who stepped down as chairman and resigned as a director. Ling is a former transport minister of Malaysia. The Transmile Group’s main business is Transmile Air Services, a cargo airline that operates from Kuala Lumpur to destinations in Asia and Europe as well as the USA via Hong Kong.

It has been in the news in recent months for an accounting scandal, the discovery of which forced it to restate earnings and led to the resignation of several senior managers.

Transmile has meanwhile appointed Kam Wai Peng as group chief financial officer, replacing Lo Chok Ping who was one of the executives who resigned as a result of the accounting scandal. Kam previously worked for VADS, a managed network services company in Malaysia.

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Source: Flight Daily News

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